Economists peg 09-10 deficit at $1.7 billion

By Laura Weber, Michigan Public Radio Network

Lansing, MI – Lansing, Mi (MPRN)
State economists this morning estimated Michigan's budget deficit for the coming fiscal year will be $1.7 billion.

The state's top economists spoke in Lansing on the different impacts a "messy" bankruptcy and a "good" bankruptcy would have on the state's economy. They said a messy bankruptcy could have a potentially devastating impact. Economists from the Center for Automotive Research said the likelihood of General Motors going through a messy bankruptcy was about 50%.